(a) To make available the moneys from the veterans' mortgage
fund for the making or purchase of loans in the name of and on
behalf of the state;

(b) To make and execute contracts, including contracts for the
purchase of bond or pool insurance, releases, compromises,
compositions and other instruments necessary or convenient for the
exercise of its powers, or to carry out its purposes under this
article;

(c) To impose and collect reasonable fees and charges in
connection with the making, purchase and servicing of loans, which
fees and charges shall be limited to the amounts required to pay
the expenses related to the administration of the program,
including operating and administrative costs and any bond guaranty
fees;

(d) To employ such agents and consultants as it deems
advisable and to fix their compensation and prescribe their duties
with respect to the program;

(e) To acquire, hold and dispose of personal and real property
for its purposes under this article;

(f) To enter into agreements or other transactions with any
federal or state agency, any lending institution or any other person, partnership, corporation, association or organization;

(g) To sell, at public or private sale, any loan or other
negotiable instrument or obligation securing a loan made under the
provisions of this article;

(h) To make loans or to purchase loans from lending
institutions in the manner and under the terms and conditions
prescribed by this article;

(i) To enter into agreements with lending institutions and
other entities for advertising the program, for taking applications
for loans, for originating loans in the name of the state or in the
name of such lending institution, for supervising the execution of
promissory notes, deeds of trust and other documents and agreements
associated with the program, for accepting and transmitting loan
payments and otherwise servicing loans, for the operation and
administration of any other aspect of the program or to operate and
administer any and all aspects of the program;

(j) To reimburse itself or to pay such lending institutions or
other entities pursuant to any such agreements for any reasonable
and necessary fees and expenses incurred in the operation and
administration of the program; and

(k) To exchange loans for certificates issued by an entity
approved by the governor for amounts and on terms and conditions
acceptable to the governor.

Note: WV Code updated with legislation passed through the 2014 1st Special Session
The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.